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of darden at a ten-month low after the restaurant operator cut its full year guidance. rachel rothman downgraded darden last month from positive to neutral with a $58 price target and joins us now on the cnbc newsline. thank you for joining us. i appreciate it. it's become a busy morning for you. >> thank you, simon. thank you for having us. >> what's gone wrong at darden? the ceo is saying we had promotions. they didn't resonate well. we need bolder changes at red lobster, olive garden and longhorn steakhouse. >> they spent the last couple years trying to repotool menus d change limited time offers in an effort to reengage with core customer and drive positive traffic. unfortunately the efforts that they unveiled to this point have yet to actually take hold and so they are issuing a disappointment here for the quarter and for the full year citing negative same store sales at their core brands. >> is that partly because of the delayed rolled out of olive garden changes or because they simply got it wrong? in october on the show we discussed taking a seafood restaurant, red lobster and
on sales? we're here to break down the mcrib effect. ladies, great to have you with us. rachel, i'll start off with you. what sort of impact could we see potentially in the month of december? i read in the past, in 2010 at least, one of these limited introduction offers that it actually boosted sales by almost 5%. >> i think it depends on what the lto is and what the prior year same-store comparison is. i wouldn't expect to see a positive number of the magnitude that you're discussing. actually, frankly, it will probably be something in the single digit negatives. but at least it's a tried-and-true product they know customers will come in for. >> nicole, if the mcrib is so loved, is that why it's always limited, a limited time offer? why don't they just put it on the menu? >> absolutely, it's one of the most anticipated product launches of the year. by to some degree it's tried and tested, but the best thing is to use what you know. they're going up against the most difficult comparison of the year at plus ten. we think a down low single digit would be good. if they could get the flat, it
Search Results 0 to 1 of about 2